Tip Income

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Tip Income

For those employed in service jobs, regular income that does not come from either salaries or wages, but from extra money left by a patron or customer in exchange for adequate or exceptional service. Some employees, especially those in hospitality, receive most of their income through tips. Tip income is taxable in the United States, and an employee receiving more than $20 in tips for a single job in a given month must report all tips to his/her employer.

Tip Income

Gratuities received by the taxpayer for services rendered. Tips of $20 or more from any one job during a calendar month must be reported to the taxpayer's employer.